Indian importers prefer to stay away from imported plate offers from China and Korea. Current offers for commercial grade plates are assessed at USD 370/MT from China and USD 405/MT from Indonesia on CIF India basis.
Indian government has recently increased import duty on flat product from 7.5% to 10%. However, this will not be applicable for import coming from Korea, Japan and all ASEAN countries due to foreign trade agreement signed with them.
“Indonesian offers for A36 grade plates are around USD 405/MT CFR. Whereas, Chinese offers for commercial grade are USD 370/MT, CFR India. Buyers are not keen in taking position at these levels. In addition, domestic mills are offering the same grade at INR 28,500-29,000/MT ex-works”, said a MS plate trader based in Mumbai.
Another representative from a reputed Chinese steel mill mentioned that offers for high tensile plates are USD 430/MT CFR India, but buyers are showing interest at USD 400-410/MT.
Domestic Plate Prices
| Year | Week | From Date | To Date | Prices |
| 2015 | 15 | 13 Apr’15 | 19 Apr’15 | 33,000 |
| 2015 | 16 | 20 Apr’15 | 26 Apr’15 | 31,500 |
| 2015 | 17 | 27 Apr’15 | 3 May’15 | 30,500 |
| 2015 | 18 | 4 May’15 | 10 May’15 | 30,500 |
| 2015 | 19 | 11 May’15 | 17 May’15 | 30,500 |
| 2015 | 20 | 18 May’15 | 24 May’15 | 30,000 |
| 2015 | 21 | 25 May’15 | 31 May’15 | 30,000 |
| 2015 | 22 | 1 Jun’15 | 7 Jun’15 | 29,500 |
Prices in INR/MT (Ex-works) for 5-10 mm
Source: SteelMint Research
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